According to flash data for EUR futures markets from CME Group, investors added around 25.3K contracts to their open interest positions on Tuesday, the largest single day build since June 12 and the fourth advance in a row. In the same line, volume went up by nearly 257.4K contracts, highest since mid-June.
EUR/USD still looks rangebound ahead of ECB
EUR/USD’s price action on Tuesday was inconclusive despite the significant build in both open interest and volume. That said, the likeliness of a potential squeeze higher remains in the pipeline while accumulation gathers pace ahead of the critical ECB event tomorrow.
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